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Suitors are lining up for Burns-Anderson

Burns-Anderson is understood to have had several approa-ches for the business.

Falcon Group, IN Partnership and The Money Portal are all tipped as the most likely suitors for B-A, which is considering a trade sale or seeking an external cash injection.

B-A chief executive Mike Hughes says: “Providers want scale and although a decent size, we are not yet at the size of the likes of Tenet or Thinc but if we got together with another network, clearly we would have that scale.”

The Bristol network, which is 30 years old this year, has been open about its plans, with many of its 400-plus shareholders still awaiting returns on their initial investments. Hughes says B-A is looking likely to be able to pay its first dividend this year.

Falcon chief executive Allan Rosengren says: “The driving principle for any acquisition is that it makes financial sense and there is profit certainty. Speaking in broad terms, we would have an interest but I would not want to be drawn on anything more than that.”

Hughes says: “Any deal would have to be right by our shareholders, staff, members and the FSA. I cannot say we are close to doing anything just yet.”

TMP declined to comment and IN Partnership was unavailable for comment.


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